Veolia: after roadshow, Oddo confirms buy rating
(CercleFinance.com) - Following a roadshow organised with Veolia's management, an analyst at Oddo BHF has confirmed his “buy” rating on the stock of the former Compagnie Générale des Eaux, in the short term seeing the group enjoy the effects of the quartet of restructuring, structuring, positioning and finally growth.
The broker has confirmed its sentiment on the stock, with a repositioning of the investment thesis towards profitable growth and no longer just restructuring and cost savings. After performance in 2018 that once again illustrated the financial restructuring completed by the group and the industrial repositioning of businesses, the initial trends in 2019 have confirmed the group's guidelines, with - at this stage - the absence of any recognition of any economic slowdown, Oddo BHF specifies.
The broker thus maintains its target price of 30 euros, based on average historical multiples over 2000/2018 applied to 2019 estimates. This suggests upside potential of around 49%.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker has confirmed its sentiment on the stock, with a repositioning of the investment thesis towards profitable growth and no longer just restructuring and cost savings. After performance in 2018 that once again illustrated the financial restructuring completed by the group and the industrial repositioning of businesses, the initial trends in 2019 have confirmed the group's guidelines, with - at this stage - the absence of any recognition of any economic slowdown, Oddo BHF specifies.
The broker thus maintains its target price of 30 euros, based on average historical multiples over 2000/2018 applied to 2019 estimates. This suggests upside potential of around 49%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.